Philanthropy: Tax Planning & Sustainable Giving

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Running Time: 7:58

Date: 01/05/2012

Philanthropy's alive and kicking - how do your clients make the most of it?

Tax Office statistics show that tax deductible charitable giving has tripled in the past ten years. Expert Andrew Thomas puts that down to better communication by charitable organisations about what can be achieved, by more requests for money, and by broader opportunities to structure philanthropic activities effectively. With the right structure, Andrew says, there are many benefits for the giver, including the creation of a family legacy reflecting family values. It's also a very important part of inter-generational wealth transfer. There are three types of structures: Private Charitable Trusts - rarely used these days; Private Ancilliary Funds, which require considerable compliance and other administrative requirements and which are largely used for big donations, eg more than one million dollars; and Public Ancilliary Funds - much simpler, requiringsmaller donations,and an attractive option for many. The Perpetual Foundation is one such fund.